Question: Suppose you borrowed $ 2 1 , 0 0 0 at a rate of 9 . 4 % and must repay it in 4 equal

Suppose you borrowed $21,000 at a rate of 9.4% and must repay it in 4 equal installments at the end of each of the next 4 years. How large would your payments be? a. $5,977.19 b. $6,539.04 c. $7,224.00 d. $4,565.04 e. $7,520.19

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